The transfer of benefits and burdens already took place. The two parties agreed not to disclose the selling price.The building, which was raised on a plot of around 4,700 square metres in 2016, has a lettable area of about 1,153 square metres, thereof around 815 square metres of sales area. It is fully leased to the chain discounter NETTO Marken-Discount.
The city of Dieburg, which is categorised as a middle-order centre, lies in southern Hesse, around 15 kilometres east of Darmstadt with convenient access to the economic region of the Rhine-Main metro area. It is also home to a satellite campus of the Darmstadt University of Applied Sciences. The attractiveness of the location is illustrated, in addition to the above-average socio-economic ratios, by the positive commuting balance and the upward demographics.
“Aside from the sound structural condition of the property, the decisive factors for the acquisition included its occupancy by a blue-chip anchor tenant on a long-term lease and its location directly in the neighbourhood of residential areas and student halls of residence,” said Susanne Klaussner, Managing Partner of DIR Deutsche Investment Retail GmbH, who is responsible for the transaction, asset and property management of the fund real estate together with her specialist team.
“The city of Dieburg is expected to see moderately positive demographics in the coming years. In combination with the city’s role as a middle-order centre, this means that the site will retain its long-term appeal for discount grocers who ensure that local residents are supplied with non-discretionary goods,” added Matthias Kreil, Head of Transaction Management at DIR Deutsche Investment Retail GmbH.
The transaction was brokered by DRIA GmbH based in Heinsberg. Deutsche Investment was technically advised during the transaction by SREC GmbH and received legal counsel from BISSEL + PARTNER Rechtsanwälte PartGmbB.